Squawk on the Street
CNBC SPECIAL: ExxonMobil at the Crossroads Part 2
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Responding to the Demand for Oil...and Chemicals: CNBC Correspondent David Faber continues his analysis of energy giant ExxonMobil by examining the company’s quest for new oil sources, specifically in Guyana, a pristine South American country whose waters ExxonMobil estimates hold more than 12 billion gallons of crude oil. The potential rewards for ExxonMobil and Guyana may be enormous, but the controversies and risks involved with drilling in one of the world’s most unspoiled areas are daunting. Faber also explores another area of massive growth for ExxonMobil, even as the world slowing inches away from fossil fuels: plastics. ExxonMobil CEO Darren Woods shows Faber a massive new production facility for plastics components in Corpus Christi, Texas. Like its hunger for cheap, reliable energy, the world’s demand for plastics seems insatiable, and Faber questions ExxonMobil about whether the company is responding to demand, or driving it. For more CNBC Documentaries: cnbc.com/documentaries Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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